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MTF Engulf / Engulf fail

  • #6,061
  • Jan 6, 2025 10:13pm Jan 6, 2025 10:13pm
gbpjpy
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,062
  • Jan 6, 2025 10:32pm Jan 6, 2025 10:32pm
Quoting LeongPuiy
{quote} stop out for this.
let's review
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,063
  • Jan 6, 2025 11:11pm Jan 6, 2025 11:11pm
Quoting Inthebox
{quote} let's review {image}
i was set limit sell and went to bed,
wake up and cut.
there was no current CE when it retest.
was one and is at late NY session.
PA
Completed Return This Week: 21.8%
  • #6,064
  • Jan 6, 2025 11:43pm Jan 6, 2025 11:43pm
Quoting Inthebox
{quote} let's review {image}
i am of the view that if price had already moved more than say 100, 200 pips and we want to do a reversal trade,
to play safe, it is better to use engulf fail for smaller time frames.
if trading trend continuation, then use engulf will do.
of course it is the best if there is engulf fail and engulf appearing.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,065
  • Jan 7, 2025 12:04am Jan 7, 2025 12:04am
Quoting Inthebox
gbpjpy {image}
gbpjpy
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,066
  • Jan 7, 2025 12:19am Jan 7, 2025 12:19am
Quoting Inthebox
{quote} gbpjpy {image}
How to enter when the price pulls back to eg?

  1. Limit order @ EG?
  2. A close below the EG?
  3. Wait for a reaction EG @ EG?
  4. EF at the source of the pullback to EG?

Success = Practice + Patience + Persistence
  • #6,067
  • Jan 7, 2025 12:23am Jan 7, 2025 12:23am
Quoting fxpider
{quote} How to enter when the price pulls back to eg? Limit order @ EG? A close below the EG? Wait for a reaction EG @ EG? EF at the source of the pullback to EG?
limit order on pullback may not have a close below. unless you are away and still want to be involved.
ef means break of structure.
if price pullback to eg, wait for close below.
if price only pullback to ef, wait for close below.
again, you may split the size.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,068
  • Jan 7, 2025 12:38am Jan 7, 2025 12:38am
Quoting Inthebox
{quote} i am of the view that if price had already moved more than say 100, 200 pips and we want to do a reversal trade, to play safe, it is better to use engulf fail for smaller time frames. if trading trend continuation, then use engulf will do. of course it is the best if there is engulf fail and engulf appearing.
Followed the trend, but still neither the EG alone nor EG+EF held!

HTF zone + TC
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LTF EG / EG +EF

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Success = Practice + Patience + Persistence
  • #6,069
  • Jan 7, 2025 12:48am Jan 7, 2025 12:48am
Need a break, nothing has been working for me since yesterday. It's time to revisit the videos.
Success = Practice + Patience + Persistence
  • #6,070
  • Jan 7, 2025 12:57am Jan 7, 2025 12:57am
Quoting fxpider
{quote} Followed the trend, but still neither the EG alone nor EG+EF held! HTF zone + TC {image} LTF EG / EG +EF {image}
the trend may end soon since daily started to range.
h4 is your highest time frame that you looked at.
what about the daily and weekly?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,071
  • Jan 7, 2025 1:59am Jan 7, 2025 1:59am
@ITB,

Please help !

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Success = Practice + Patience + Persistence
  • #6,072
  • Edited 2:28am Jan 7, 2025 2:10am | Edited 2:28am
Quoting fxpider
{quote} Followed the trend, but still neither the EG alone nor EG+EF held! HTF zone + TC {image} LTF EG / EG +EF {image}
on closer look.
and more importantly there was no pullback on historical m30 TC. this was missed out.
this means you did an early entry which is more risky.
so we learnt that it is best to have cmp TC pullback.
if none, then historical TC pullback.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,073
  • Jan 7, 2025 2:23am Jan 7, 2025 2:23am
Quoting Inthebox
{quote} gbpjpy {image}
GJ worked for me.

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Success = Practice + Patience + Persistence
  • #6,074
  • Jan 7, 2025 2:34am Jan 7, 2025 2:34am
Quoting fxpider
@ITB, Please help ! {image}


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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,075
  • Jan 7, 2025 2:38am Jan 7, 2025 2:38am
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is this correct?
  • #6,076
  • Jan 7, 2025 2:41am Jan 7, 2025 2:41am
Quoting Inthebox
{quote} on closer look. and more importantly there was no pullback on historical m30 TC. this was missed out. this means you did an early entry which is more risky. {image}
Thank you, I can see my mistake now.

by the way, to trade off a 30m TC, should I wait

  1. for an EG+EF in 5m itself, or
  2. first an EG in 5m then an EF in a subsequent LTF?

Success = Practice + Patience + Persistence
  • #6,077
  • Jan 7, 2025 2:55am Jan 7, 2025 2:55am
Quoting fxpider
{quote} Thank you, I can see my mistake now. by the way, to trade off a 30m TC, should I wait for an EG+EF in 5m itself, or first an EG in 5m then an EF in a subsequent LTF?
ef comes first for break of structure.
safer ef eg m5 unless you see momentum for ltf.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,078
  • Jan 7, 2025 3:00am Jan 7, 2025 3:00am
Quoting Inthebox
{quote} gbpjpy {image}
gbpjpy sell result
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,079
  • Jan 7, 2025 3:00am Jan 7, 2025 3:00am
Quoting huskyboy
{image} is this correct?
stopped out
  • #6,080
  • Jan 7, 2025 3:06am Jan 7, 2025 3:06am
Quoting Inthebox
{quote} ef comes first for break of structure. safer ef eg m5 unless you see momentum for ltf.
Please one more hands-on exercise.
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Success = Practice + Patience + Persistence
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